Economic Systems
Published on Nov 18, 2015
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MORE DECKS TO EXPLORE
PRESENTATION OUTLINE
TODAY
- Introduce economic systems
- Review business structures
- Complete goal setting
Photo by Courtney Dirks
WRC
Photo by kevin dooley
PUBLIC 🔷 PRIVATE
WHAT IS THE DIFFERENCES BETWEEN PUBLIC AND PRIVATE COMPANIES?
Photo by Leo Reynolds
WHAT IS A SYSTEM?
- Includes different parts that interact
- All parts are interconnected
- This means each part affects the others
- .... Like cogs in a machine
Photo by Elsie esq.
ECONOMIC SYSTEMS
- A system to distribute goods and services to meet needs and wants
- Things to consider:
- Survival, wealth, power, equality, freedom
Photo by marcp_dmoz
SUBSISTENCE ECONOMY
- Grow and make own food
- Make own clothes and tools
- Barter if needed
- Eg. Rural parts of developing countries
Photo by Ecoagriculture Partners
PLANNED ECONOMY
- Government decides how to meet needs and wants
- Equality
- E.g cuba, soviet, china
Photo by La Vieja Sirena
FREE MARKET ECONOMY
- No regulation - self regulating
- Business freely competes
- The price of goods dictated by consumers
- The cost of labour dictated by employers
Photo by Werner Kunz
MIXED ECONOMY
- Government controls some services
- - defence, health, education, welfare
- Increasing Privatisation
- Australia's economy
Photo by Cyron
ED STUDIOS
HAVE YOU BEEN ON HERE YET?
HOMEWORK
PLEASE COMPLETE THESE ACTIVITIES!!!
GOAL SETTING TIME
FILL THIS FORM OUT - IN A BREAKOUT ROOM
